House Energy and Commerce - Automobile Dealership Closures, Continuation - 286995-2-DVD - House Energy and Commerce Committee. Subcommittee on Oversight and Investigations. Automotive industry executives and auto dealers continued their testimony following a vote break for committee members. Witnesses examined the recent auto dealership closures announced by Chrysler and General Motors. Chrysler plans to close 789 dealerships this week and GM wants to eliminate approximately 2,500 of its 6,000 dealerships by the end of next year. The automakers said that large dealer networks now represent a drain on the companies. They argued that they would save billions on support costs, incentive payments and other costs by closing dealerships that perform poorly or do not fit restructuring plans. Auto dealers said closing so many dealerships would eliminate tens of thousands of jobs, hurt local economies and do little to improve the automakers' long-term prospects. See program id no. 286995-1 to view the first portion of the hearing. Filmed by C-SPAN. Non-commercial use only. For more information, see http://www.c-spanvideo.org/program/286995-2
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